US all wheat production for this year was heavier than originally expected.
The USDA’s small grains summary on Friday – the government’s best estimate to date for the 2023 wheat crop – put 2023 total American all wheat output at 1.811 billion bu, up from the previous USDA forecast of 1.734 billion and easily topping the average pre-report guess of 1.731 billion. The upwardly revised total is also now 10% above a year earlier.
A significant portion of the increase in the all wheat production estimate was due to a larger spring wheat crop, now estimated at 504.9 million bu, compared to 449.5 million previously and 482.2 million in 2022. At 1.25 billion bu, the national winter wheat crop was also revised higher, increasing from 1.22 billion earlier to 1.25 billion – and 13% above the 2022 crop. Durum was bumped 2 million bu higher to 59.3 million, although still down 7% on the year.
In terms of the two largest winter wheat classes, Hard Red Winter production is now estimted at 601 million bu, up from the previous estimate of 585 million, while Soft Red Winter was increased to 449 million bu from 413 million.
Click here to see more...